Common use of Property Inspection Clause in Contracts

Property Inspection. a) It is the Buyer’s sole responsibility to (1) perform all inspections (physical, legal, economic, environmental, archeological, geological, pest, or otherwise) on the Property and to be satisfied as to its condition prior to entering into this Contract; and (2) to review all property information and due diligence materials with respect to the Property, including, without limitation, the Disclosure Statements, prior to entering into this Contract; and (3) to independently verify any information it deems important including information available in public records; and (4) to inquire of public officials as to the applicability of and compliance with land use and environmental laws, building ordinances, zoning, health & safety codes, and any other local, state or federal laws and regulations. b) Buyer shall be responsible for the costs of all inspections, surveys, engineering reports, environmental studies, including, but not limited to, lead-based paint tests, or for any other work performed at Buyer’s request and Buyer shall pay for any damage which occurs to the Property as a result of such activities. Buyer shall not permit any claims or liens of any kind against the Property for inspections, surveys, engineering reports, or for any other work performed on the Property at Buyer’s request. Xxxxx agrees to defend, indemnify, protect and hold Seller, Xxxxxxxxxx and Broker harmless from and against any liability, damage, cost or expense incurred, directly or indirectly, by Seller, Auctioneer or Broker as result of Buyer’s inspection, examination or survey of the Property, either prior to, on or after the date hereof. This indemnity includes the indemnified parties’ right to recover all costs and expenses incurred by such parties to enforce this Section, including reasonable attorneys’ fees whether any lawsuit or arbitration is commenced in connection with this Agreement. Xxxxx further agrees to repair any damage caused by such inspections and to restore the Property to its condition prior to the inspection. This provision shall survive the Closing Date and any termination of this Contract. Xxxxx and/or their agents may not enter upon the Property without first obtaining Seller’s written authorization to do so, to be granted upon Xxxxxx’s sole discretion. Buyer agrees that it shall cause all contractors, agents and other inspectors who enter onto the Property to conduct the inspections, surveys, reports or other work to have liability insurance in an amount reasonably acceptable to Seller, and shall provide Auctioneer and Broker or Seller with a certificate of liability insurance, naming Seller, Broker and Auctioneer as additional insureds, for their review and approval prior to Buyer's and each such contractor, agent or inspector's entry onto the Property.

Property Inspection. a) It is the Buyer’s sole responsibility to (1) perform all inspections (physical, legal, economic, environmental, archeological, geological, pest, or otherwise) on the Property and to be satisfied as to its condition prior to entering into this Contract; and (2) to review all property information and due diligence materials with respect to the Property, including, without limitation, the Disclosure Statements, prior to entering into this Contract; and (3) to independently verify any information it deems important including information available in public records; and (4) to inquire of public officials as to the applicability of and compliance with land use and environmental laws, building ordinances, zoning, health & safety codes, and any other local, state or federal laws and regulations. b) Buyer shall be responsible for the costs of all inspections, surveys, engineering reports, environmental studies, including, but not limited to, lead-based paint tests, or for any other work performed at Buyer’s request and Buyer shall pay for any damage which occurs to the Property as a result of such activities. Buyer shall not permit any claims or liens of any kind against the Property for inspections, surveys, engineering reports, or for any other work performed on 6 the Property at Buyer’s request. Xxxxx Buyer agrees to defend, indemnify, protect and hold Seller, Xxxxxxxxxx Auctioneer and Broker harmless from and against any liability, damage, cost or expense incurred, directly or indirectly, by Seller, Auctioneer or Broker as result of Buyer’s inspection, examination or survey of the Property, either prior to, on or after the date hereof. This indemnity includes the indemnified parties’ right to recover all costs and expenses incurred by such parties to enforce this Section, including reasonable attorneys’ fees whether any lawsuit or arbitration is commenced in connection with this Agreement. Xxxxx Buyer further agrees to repair any damage caused by such inspections and to restore the Property to its condition prior to the inspection. This provision shall survive the Closing Date and any termination of this Contract. Xxxxx Buyer and/or their agents may not enter upon the Property without first obtaining Seller’s written authorization to do so, to be granted upon XxxxxxSeller’s sole discretion. Buyer agrees that it shall cause all contractors, agents and other inspectors who enter onto the Property to conduct the inspections, surveys, reports or other work to have liability insurance in an amount reasonably acceptable to Seller, and shall provide Auctioneer and Broker or Seller with a certificate of liability insurance, naming Seller, Broker and Auctioneer as additional insureds, for their review and approval prior to Buyer's ’s and each such contractor, agent or inspector's ’s entry onto the Property.

Property Inspection. a) It is Prior to Settlement, the Buyer’s sole responsibility Lighthouse Parties shall provide the Public Parties the opportunity to (1) perform all inspections (physicalmake a physical inspection of the Lighthouse Acquisition Properties, legalincluding an inspection of the environmental condition thereof, economic, environmental, archeological, geological, pest, to conduct such non-invasive physical engineering and other studies and tests on or otherwise) on of the Property Lighthouse Acquisition Properties and to prepare surveys of the Lighthouse Acquisition Properties as the Public Parties deem appropriate in their sole discretion; provided, however, the Public Parties understand and agree that any on-site inspections of the Lighthouse Acquisition Properties shall occur during normal business hours, after reasonable prior notice to the Lighthouse Parties (but in no event less than 24 hours’ notice), and shall be satisfied conducted so as not to interfere unreasonably with the use of the Lighthouse Acquisition Properties by the Contributor or its tenants or with the management of the Lighthouse Acquisition Properties. The Lighthouse Parties shall have the right to have a representative present during any such inspections. If the Public Parties desire to do any invasive testing at the Lighthouse Acquisition Properties, they shall do so only after notifying the Lighthouse Parties and obtaining the Lighthouse Parties’ prior written consent thereto, which may not be unreasonably withheld. Without limiting the foregoing, the Public Parties at their sole cost and expense shall maintain adequate liability insurance naming the Lighthouse Parties as additional insureds and shall promptly restore any damage to the Lighthouse Acquisition Properties to their condition prior to entering into this Contract; and (2) any such inspections or tests. The Public Parties agree to review all property information and due diligence materials with respect to the Property, including, without limitation, the Disclosure Statements, prior to entering into this Contract; and (3) to independently verify any information it deems important including information available in public records; and (4) to inquire of public officials as to the applicability of and compliance with land use and environmental laws, building ordinances, zoning, health & safety codes, and any other local, state or federal laws and regulations. b) Buyer shall be responsible for the costs of all inspections, surveys, engineering reports, environmental studies, including, but not limited to, lead-based paint tests, or for any other work performed at Buyer’s request and Buyer shall pay for any damage which occurs to the Property as a result of such activities. Buyer shall not permit any claims or liens of any kind against the Property for inspections, surveys, engineering reports, or for any other work performed on the Property at Buyer’s request. Xxxxx agrees to defendprotect, indemnify, protect defend and hold Seller, Xxxxxxxxxx and Broker the Lighthouse Parties harmless from and against any liabilityclaim for liabilities, damagelosses, cost or expense incurredcosts, directly or indirectly, by Seller, Auctioneer or Broker as result of Buyer’s inspection, examination or survey of the Property, either prior to, on or after the date hereof. This indemnity includes the indemnified parties’ right to recover all costs and expenses incurred by such parties to enforce this Section, (including reasonable attorneys’ fees whether any lawsuit fees), damages, injuries, liens or arbitration is commenced claims of lien arising out of or resulting from the inspection of the Lighthouse Acquisition Properties by the Public Parties or their agents or consultants other than resulting from conditions that are discovered but not caused or aggravated by the Public Parties, and notwithstanding anything to the contrary in connection with this Agreement. Xxxxx further agrees , such obligation to repair any damage caused by such inspections indemnify and to restore the Property to its condition prior to the inspection. This provision hold harmless shall survive the Closing Date and Settlement or any termination of this Contract. Xxxxx and/or their agents may not enter upon the Property without first obtaining Seller’s written authorization to do so, to be granted upon Xxxxxx’s sole discretion. Buyer agrees that it shall cause all contractors, agents and other inspectors who enter onto the Property to conduct the inspections, surveys, reports or other work to have liability insurance in an amount reasonably acceptable to Seller, and shall provide Auctioneer and Broker or Seller with a certificate of liability insurance, naming Seller, Broker and Auctioneer as additional insureds, for their review and approval prior to Buyer's and each such contractor, agent or inspector's entry onto the PropertyAgreement.

Property Inspection. a0l Property Inspection. For and in consideration of the sum of Ten Dollars ($10.00) It is and other good and valuable consideration, the Buyer’s sole responsibility receipt and adequacy of which are hereby acknowledged, Seller agrees that Buyer shall have until thirty (30) days after the "Effective Date" of this Agreement (the "Inspection Period") to (1) perform all inspections (physicalconduct such inspections, legaltests, economicsurveys or studies, environmental, archeological, geological, pest, subject to Seller's right to be present at or otherwise) on the Property during any such activities and to be satisfied as to its condition prior to entering into this Contract; and (2) to review all property information and due diligence materials provided with respect to the Property, including, without limitation, the Disclosure Statements, prior to entering into this Contract; and (3) to independently verify any information it deems important including information available in public records; and (4) to inquire of public officials as to the applicability of and compliance with land use and environmental laws, building ordinances, zoning, health & safety codes, and any other local, state samples or federal laws and regulations. b) Buyer shall be responsible for the costs of all inspections, surveys, engineering reports, environmental studies, including, but not limited to, lead-based paint tests, or for any other work performed at Buyer’s request and Buyer shall pay for any damage which occurs to the Property as a result of such activities. Buyer shall not permit any claims or liens of any kind against the Property for inspections, surveys, engineering reports, or for any other work performed on the Property at Buyer’s request. Xxxxx agrees to defend, indemnify, protect and hold Seller, Xxxxxxxxxx and Broker harmless from and against any liability, damage, cost or expense incurred, directly or indirectly, by Seller, Auctioneer or Broker as result of Buyer’s inspection, examination or survey of the Property, either prior to, on or after the date hereof. This indemnity includes the indemnified parties’ right to recover all costs and expenses incurred by such parties to enforce this Section, including reasonable attorneys’ fees whether any lawsuit or arbitration is commenced in connection with this Agreement. Xxxxx further agrees to repair any damage caused by such inspections and to restore the Property to its condition prior to the inspection. This provision shall survive the Closing Date and any termination of this Contract. Xxxxx and/or their agents may not enter upon the Property without first obtaining Seller’s written authorization to do so, to be granted upon Xxxxxx’s sole discretiontest results relating thereto. Buyer agrees that it will have the Inspection Period to physically inspect the Property, review the economic data, underwrite the tenants and review their leases, and to otherwise conduct its due diligence review of the Property and all books, records and accounts of Seller related thereto. Buyer hereby agrees to indemnify and hold Seller harmless from any damages, liabilities or claims for property damage or personal injury arising out of such inspection and investigation by Buyer or its agents or independent contractors. Within the Inspection Period, Buyer may, in its sole discretion and for any reason or no reason, elect to go forward with this Agreement to closing, which election shall cause be made by notice to Seller given within the Inspection Period. If such notice is not timely given, this Agreement and all contractorsrights, agents duties and obligations of Buyer and Seller hereunder, except any which expressly survive termination, shall terminate and Escrow Agent shall forthwith return to Buyer the Earnest Money Deposit. Ix Xxxxx so elects to go forward, the Earnest Money Deposit xxxxx not be refundable except upon the terms otherwise set forth herein. The Inspection Period may be extended by Buyer for three successive periods of thirty (30) days each, by written notice to Seller given within the Inspection Period, as 10/29/96 11 extended, as the case may be. Buyer, through its officers, employees and other inspectors who enter onto authorized representatives, shall have the right to reasonable access to the Property to conduct and all records of Seller related thereto, including without limitation all leases and Seller Financial Statements, at reasonable times during the Inspection Period for the purpose of inspecting the Property, taking soil borings, conducting Hazardous Materials inspections, surveysreviewing the books and records of Seller concerning the Property and otherwise conducting its due diligence review of the Property. Seller shall cooperate with and assist Buyer in making such inspections and reviews. Seller shall give Buyer any authorizations which may be required by Buyer in order to gain access to records and other information pertaining to the Property or the use thereof maintained by any governmental or quasi-governmental authority or organization. Buyer, reports for itself and its agents, agrees not to enter into any contract with existing tenants without the written consent of Seller if such contract would be binding upon Seller should this transaction fail to close. Buyer shall have the right to have due diligence interviews and other discussions or negotiations with tenants. Buyer, through its officers or other work authorized representatives, shall have the right to have liability insurance in an amount reasonably acceptable reasonable access to Seller, all Materials (other than privileged or confidential litigation materials) for the purpose of reviewing and shall provide Auctioneer and Broker or Seller with a certificate of liability insurance, naming Seller, Broker and Auctioneer as additional insureds, for their review and approval prior to Buyer's and each such contractor, agent or inspector's entry onto copying the Propertysame.

Property Inspection. aFrom the Execution Date through closing, Seller shall permit Buyer and its agents, at Buyer's sole expense and risk, to enter the Property, at reasonable times after reasonable prior notice to Seller and after prior notice to the tenants of the Property as required by the tenants' leases, to conduct inspections, tests, surveys and other investigations including (i) It environmental review including independent third party review of any environmental and geotechnical reports provided by Seller, that is, a Phase I environmental site assessment as that term is generally used, but no drilling or other invasive action at the BuyerProperty without Seller’s sole responsibility prior written consent, which shall not be unreasonably conditioned, delayed or denied; (ii) preparation of design, planning or density studies; (iii) third party engineering reviews, including review of building structure and mechanical systems; (iv) preparation of an independent market survey and geotechnical report; (v) review of historic preservation issues; (vi) review of City of Kent files and documents, as well as applications and correspondence (if any) of Seller with the Ó 1997 Commercial Association of REALTORSÒ Portland/Vancouver (Rev. 9/97) City; and (vii) other matters pertaining to (1) perform all inspections (physicaltitle, legal, economic, environmental, archeological, geological, pest, physical condition or otherwise) on any other aspect of the Property. Buyer shall also have the right to discuss the Property and this Agreement with third parties, including lenders, contractors and governmental officials and representatives. Buyer shall indemnify, hold harmless, and defend Seller from all liens, costs, and expenses, including reasonable attorneys' fees and experts' fees, arising from or relating to Buyer's entry on and inspection of the Property. This agreement to indemnify, hold harmless, and defend Seller shall survive closing or any termination of this Agreement. The Buyer and Seller understand that the information provided is confidential in nature, and the Buyer and the Seller covenant not to disclose any information the use of which in any manner may be satisfied detrimental to any party, except as reasonably necessary in connection with the transactions contemplated by this Agreement, or as required by applicable law. Seller hereby agrees from and after the Execution Date until the Closing Date (as hereinafter defined), or the termination of this Agreement, that (i) Seller will take no action that will adversely affect title to its condition prior to entering into this Contractthe Property; and (2ii) to review all property information and due diligence materials Seller will not enter into any written or oral contracts, leases, or agreements or amendments or modification thereto, with respect to the Propertyoperation, includinguse or occupancy of the Property without the prior written consent of Buyer. Buyer may obtain an ALTA survey of the Property during the Due Diligence Period and Seller, without limitationincurring any cost or expense to it, shall promptly cooperate with Buyer with regard to obtaining such survey. Buyer, at its expense, shall be entitled to engage an environmental consultant of its choice and obtain a Phase I environmental site assessment of the Disclosure StatementsProperty during the Due Diligence Period, prior to entering into this Contract; and (3) to independently verify any information it deems important including information available in public records; and (4) to inquire of public officials as to the applicability of and compliance with land use and environmental lawsand, building ordinancesif recommended by such consultant, zoning, health & safety codes, and any other local, state or federal laws and regulations. b) Buyer shall be responsible for entitled to obtain a Phase II environmental site assessment and perform any testing recommended in the costs assessment. Seller agrees to provide Buyer and its consultant with copies of all inspections, surveys, engineering any environmental reports, assessments or other information in Seller’s possession or of which Seller has knowledge, concerning the Property, or any portion thereof, and to cooperate in the completion of Buyer’s environmental studiessite assessment. Buyer, at its expense, shall be entitled to engage a consultant of its choice to review and inspect the Property and all of the buildings on the Property, including, but not limited to, leadthe structural and roof components of the buildings and compliance with building codes and the Americans With Disabilities Act. If in the possession of Seller, Seller Ó 1997 Commercial Association of REALTORSÒ Portland/Vancouver (Rev. 9/97) agrees to provide Buyer with as-based paint tests, or built plans and specifications for any other work performed at Buyer’s request the Property and Buyer shall pay for any damage which occurs to facilitate access to the Property as a result of such activities. Buyer shall not permit any claims or liens of any kind against the Property for inspections, surveys, engineering reports, or for any other work performed on the Property at by Buyer’s request. Xxxxx agrees to defend, indemnify, protect consultants and hold Seller, Xxxxxxxxxx and Broker harmless from and against any liability, damage, cost or expense incurred, directly or indirectly, by Seller, Auctioneer or Broker as result of Buyer’s inspection, examination or survey of the Property, either prior to, on or after the date hereof. This indemnity includes the indemnified parties’ right to recover all costs and expenses incurred by such parties to enforce this Section, including reasonable attorneys’ fees whether any lawsuit or arbitration is commenced in connection with this Agreement. Xxxxx further agrees to repair any damage caused by such inspections and to restore the Property to its condition prior to the inspection. This provision shall survive the Closing Date and any termination of this Contract. Xxxxx and/or their agents may not enter upon the Property without first obtaining Seller’s written authorization to do so, to be granted upon Xxxxxx’s sole discretion. Buyer agrees that it shall cause all contractors, agents and other inspectors who enter onto the Property to conduct the inspections, surveys, reports or other work to have liability insurance in an amount reasonably acceptable to Seller, and shall provide Auctioneer and Broker or Seller with a certificate of liability insurance, naming Seller, Broker and Auctioneer as additional insureds, for their review and approval prior to Buyer's and each such contractor, agent or inspector's entry onto the Propertyrepresentatives.